Shares of CATL soared after the world’s biggest battery maker reported higher than expected earnings, with strong demand in energy storage systems, including for AI data centres, as the company looks for growth beyond electric vehicles.
CATL’s Hong Kong-listed shares climbed as much as 9.7 per cent on Tuesday after it reported full-year net profit of Rmb72.2bn ($10.4bn) late on Monday, 42 per cent higher than in 2024 and ahead of analyst estimates. Its shares in Shenzhen rose as much as 6.2 per cent.
The results highlight the Chinese battery maker’s centrality to the world’s transition away from fossil fuel-based energy and transport systems, just as global oil and gas supply chains are rocked by conflict in the Middle East.
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